PayPal Here, Credit Card Payment System Unveiled

This week as expected PayPal has unveiled their new “PayPal Here” credit card payment dongle for mobile devices. Along the same lines as Square, started by Twitter co-founder Jack Dorsey and launched back in 2010.

The new PayPal Here dongle is triangular in shape and PayPal will charge merchants a flat fee of 2.7 percent for each transaction, process through the device.

The new PayPal Here dongle also provides a few additional features allowing you to take a photo of the card to accept payment, is equipped with an invoicing system and will also track cash and check payments.

PayPal’s mobile vice president David Marcus explained during the unveiling of PayPal Here at the San Francisco event yesterday.

“No business will ever have to say they can’t accept a form of payment,” – “We are going to aggressively push this out to our 100 million PayPal users around the world,” Marcus said. “We can accept any form of payment, short of barter.”

This clunky-looking card reader device is certainly not for me and 2.7% is a bit too much. I am looking forward for mPowa’s launch. I prefer the sleeker dongle and specially the .25% rate per card transaction! Much more interesting. If you want to check their site just go to http://www.mpowa,com